While auto insurance is an important aspect of driving, for many new drivers car insurance is more of a pain than a benefit because of high premiums they have to pay. The amount of auto insurance you are required to carry as a minimum depends on the state you drive in and live in. Drivers need to understand the that in many states, they could run the risk of having their vehicles impounded on the spot if they are pulled over by authorities and are found without insurance. It is illegal for some states for a police officer to allow a driver to continue driving without the proper car insurance. Aside from your car being impounded, you may also find yourself being charged with heavy fines and fees by the courts and along with the trouble of a revoked or suspended for a certain amount of time.
If you are involved in a car accident, you may face huge medical expenses because of personal liability along with damages that may cause financial hardship and utilization of all of your resources, so having a car insurance is important to provide you protection from all of these things. If a driver is involved in a car accident and found to be at fault, he will be held personally responsible for all the costs of hospital bills and medical expenses until the other parties have fully recovered, including loss wages, and major monetary awards if someone is killed. Not having the proper insurance could lead to selling of homes, stocks and bonds and other assets of the driver who is at fault just to pay his liabilities and damages and prevent being jailed because of these. It also means being involved in future payments since not all drivers cannot pay all liabilities and damages all at once, spending the rest of their lives paying them off. On the other hand, if you are the victim of the accident and the other driver does not have any insurance, you will likely have to pay your own medical expenses and with all the legal fees if you decide later on to sue the other party for not shouldering the hospital bills and paying your damages.
Thus, it is crucial to have a car insurance to prevent these things from happening, and for you to have an assurance that you will be covered for medical expenses, hospital bills, property damage, and other liabilities and damages relating to a car accident. Vehicle repairs are expensive but if you have car insurance you will be helped in paying damages to your property caused by flood, fire, hail, and theft. Rather than being out of your pocket, your car insurance company can shoulder the cost o repairs and replacement for the vehicle you hit in case of an accident and you’re the one found at fault. So it is practical to pay premiums for a car insurance than risking your finances because only a single car accident can force you into bankruptcy court if you’re not protected by car insurance.The 9 Most Unanswered Questions about Businesses